56 Commerce

practical, to prevent every commercial concern in India

under European control being included in the same

category.

Nationalization of Industries.

The above principle of 'no discrimination' should also
be subject to the right of the National Government to
acquire public utility undertakings, such as railway,
tramway, and electric supply companies, &c, in the
national interest. While the national government would
not be debarred from treating any industry (present or
future) as a fit subject for nationalization, it is only fair
that wherever rights under existing leases or licences are
acquired or otherwise interfered with, adequate compensa-
tion as determined by a judicial tribunal should be paid.
This principle is recognized even now in the case of ac-
quisition of land for public purposes. It is only just and
proper, as is pointed out in the report of the Federal
Structure Committee, that property rights should be
guaranteed in the Constitution and that provision should
be made whereby no person can be deprived of his pro-
perty, save by due process of law and for public purposes,
and then only on payment of fair and just compensation
to be assessed by a judicial tribunal.1 This is recognized
in the Constitution framed by the Nehru Committee as a
fundamental right and is provided for as follows:

'No person shall be deprived of his property, nor shall his
dwelling or property be entered, sequestered, or confiscated,
save in accordance with law. All titles to private and personal
property lawfully acquired and enjoyed at the establishment
of the Commonwealth (of India) are hereby guaranteed.9

Such a clause is to be found in most existing Constitutions*

1 Such a guarantee is demanded not only by the British commercial
community but also by Indian landlords.